Listing ID: 74866
The philosophy of this practice is to educate patients and enable them to make healthy lifestyle choices. Medical services include preventative health, men’s and women’s health, anti-aging, hormone replacement, and medical weight loss. The patients feel like family because the medical providers take the time to understand each patient’s unique history and create a personalized care plan with an emphasis on prevention and wellness.
The 4,127 SF building is offered for sale at $930,000 ($225/SF) and will be sold along with the practice as a package.
- Asking Price: $1,050,000
- Cash Flow: $524,878
- Gross Revenue: $1,245,446
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2007
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:4,127
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
The family medicine practice occupies approximately 2,700 SF of clinical space within a 4,127 SF single-level office condo. The practice has 5 fully equipped exam rooms, waiting room for 9 people, reception area, one Physician office, PA/NP office, MA station, 3 restrooms, weight loss consult room, and staff lounge. Additionally, there are approximately 1,427 SF of clinical space dedicated to diagnosis, treatment and prevention of mechanical disorders of the musculoskeletal system. The office suite includes four treatment rooms, physical therapy room, patient lobby, business office and restroom. It is currently being leased to a Chiropractor.
The seller is willing to assist the buyer with the transition for approximately 6+ months. Trained staff will stay with the practice.
The current owner desires to relocate out-of-state.
1) Add additional providers; 2) Implement a comprehensive marketing plan (none exists); 3) Expand office hours; 4) Add ancillary services.
The company was established in 2007, making the business 15 years old.
The company has 7 employees and resides in a building with disclosed square footage of 4,127 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell businesses. Nonetheless, the true reason and the one they say to you might be 2 completely different things. As an example, they might say "I have way too many various commitments" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these might just be reasons to try to conceal the reality of changing demographics, increased competitors, recent reduction in revenues, or a range of various other reasons. This is why it is extremely essential that you not depend totally on a seller's word, yet rather, utilize the seller's answer combined with your total due diligence. This will paint an extra reasonable picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Numerous companies borrow money with the purpose of covering points such as supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can imply that profit margins are too thin. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that need to be met or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area bring in new consumers? Many times, businesses have repeat customers, which develop the core of their everyday earnings. Certain aspects such as brand-new competition growing up around the location, road building and construction, and also personnel turnover can affect repeat consumers and also negatively impact future earnings. One vital point to think about is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Clearly, the more people that see the business often, the higher the opportunity to develop a returning customer base. A last idea is the basic location demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? Exactly how might the regional mean family earnings influence future income prospects?